The Storica retails for $120 in the US:

https://www.amazon.com/selle-ITALIA-...01M1O6JWL?th=1

If you bought yours new for 50 pounds....hmm. Sure it's legit?

It's hard to tell from the photos. Does it seem like real leather, or more like imitation?

Only reason I ask: I've never seen real leather do what yours is doing.